Latest news for Oculus VisionTech (OTC:OVTZ) Stock

Oculus VisionTech Inc. is a Canadian-based development-stage technology company focused on cyber security, data privacy and data protection solutions for Enterprise business customers.

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“What’s in a name? That which we call a rose by any other name would smell just as sweet.”

A beverage company might be wishing it didn’t share a name with a cryptocurrency platform after being mistakenly linked.

Mistaken Identity? Drink Maker Celsius Falls 10% On Monday

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The COVID-19 pandemic has fueled a boom in tech stocks and the Nasdaq has rocketed up 42% since January 2020.

5 Canadian Tech Companies To Watch As U.S. Companies Continue to Seek M&amp;A

EARS

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Shares of a tiny music recording industry penny stock rocketed higher Thursday in a case of stock mistaken identity.

Music Industry Penny Stock Stock Spikes 874% On Case Of Mistaken Identity

OCULUS VISIONTECH INC by Oculus Visiontech, Inc.

Oculus VisionTech Inc

Oculus VisionTech

&ldquo;What&rsquo;s in a name? That which we call a rose by any other name would smell just as sweet.&rdquo;

A beverage company might be wishing it didn&rsquo;t share a name with a cryptocurrency platform after being mistakenly linked.

What Happened: Shares of Celsius Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CELH#NASDAQ">CELH</a>) were down double digits Monday as the price of <a href="https://www.benzinga.com/markets/cryptocurrency/how-to-buy-bitcoin">Bitcoin </a>(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) and other cryptocurrencies fell related to the <a href="https://www.benzinga.com/news/22/06/27664587/celsius-says-its-halting-withdrawals-due-to-extreme-market-conditions">pausing of withdrawals and transfers</a> between accounts by cryptocurrency lending firm Celsius.

The problem is of course that Celsius Holdings doesn&rsquo;t offer Bitcoin trading or anything to do with cryptocurrency. Instead, the company sells calorie-burning beverages and was likely the victim of mistaken identity by investors.

Crypto lending firm Celsius said it was taking steps necessary to protect users.

&ldquo;We are announcing that Celsius is pausing all withdrawals, swap, and transfers between accounts. We are taking this action today to put Celsius in a better position to honor, over time, its withdrawal obligations,&rdquo; crypto company Celsius said.

Beverage company Celsius released no news or earnings on Monday. Shares fell double-digits Monday as peer companies Monster Beverage Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MNST#NASDAQ">MNST</a>), Coca-Cola Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KO#NYSE">KO</a>) and PepsiCo, Inc.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PEP#NYSE">PEP</a>) all saw small moves and nothing drastic happened in the beverage sector.

The last news from Celsius was the company&rsquo;s first quarter, which <a href="https://www.benzinga.com/news/earnings/22/05/27125018/celsius-holdings-stock-soars-as-q1-results-beat-estimates">saw </a>revenue growth of 167% to $133.4 million. An increase of 395% year-over-year in the direct store delivery network was among the contributing factors to the strong quarterly growth. Celsius products are available in more than 140,000 stores in the U.S.

Volume for Celsius Holdings also topped 1.15 million shares on Monday, ahead of the company&rsquo;s average daily trading volume for the last 100 days.

Related Link: <a href="https://www.benzinga.com/markets/cryptocurrency/22/06/27679727/why-is-celsius-token-crashing-ethereums-defi-vs-cefi-lending-explained">Why Is Celsius Token Crashing? Ethereum&#39;s DeFi Vs. CeFi Lending, Explained&nbsp;</a>

Why It&rsquo;s Important: Confusing company names with another can often result in large movements as investors try to get a piece of a company moving on news.

Penny stock Luminar Media Group Inc (OTC:<a class="ticker" href="https://www.benzinga.com/stock/LMGR#OTC">LMGR</a>) <a href="https://www.benzinga.com/news/20/12/18644851/music-industry-penny-stock-spikes-874-on-case-of-mistaken-identity">rocketed </a>higher in confusion to lidar company Luminar Technologies Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LAZR#NASDAQ">LAZR</a>) after the latter completed its SPAC merger and began trading under its new name in late 2020.

Shares of Auris Medical Holding and Oculus VisionTech Inc&nbsp;(OTC:<a class="ticker" href="https://www.benzinga.com/stock/OVTZ#OTC">OVTZ</a>) also <a href="https://www.benzinga.com/markets/cryptocurrency/21/02/19428004/elon-musk-sends-clubhouse-medias-stock-soaring-in-case-of-mistaken-identity">traded higher</a> in two separate occasions when private companies with similar names were announced as acquisitions by Johnson &amp; Johnson (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JNJ#NYSE">JNJ</a>) and Meta Platforms Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>), respectively.

CELH Price Action: Celsius Holdings shares closed down 10% Monday to $55.34. Shares are rebounding&nbsp;on Tuesday, up 4.90% to $57.29.

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The COVID-19 pandemic has fueled a boom in tech stocks and the Nasdaq has rocketed up 42% since January 2020.

What Happened: Companies in the technology sector have benefited from the realities of the pandemic. Organizations have been forced to quickly digitalize their operations to allow employees to work from home. Technology is quickly advancing in electric vehicles, autonomous driving, space exploration and online shopping.

Why It Matters: Mergers and acquisitions within the tech industry have been picking up in pace. In December 2020, salesforce.com, inc.&nbsp;(NYSE:<a class="ticker" href="/stock/CRM#NYSE">CRM</a>) <a href="https://www.benzinga.com/pressreleases/20/12/b18604589/salesforce-signs-definitive-agreement-to-acquire-slack">acquired</a> Slack Technologies Inc&nbsp;(NYSE:<a class="ticker" href="/stock/WORK#NYSE">WORK</a>) for $27.7 billion and this month Okta&nbsp;Inc&nbsp;(NASDAQ:<a class="ticker" href="/stock/OKTA#NASDAQ">OKTA</a>) <a href="https://www.benzinga.com/pressreleases/21/03/b19993730/okta-signs-definitive-agreement-to-acquire-auth0-to-provide-customer-identity-for-the-internet">agreed to purchase</a> competitor Auth0 in a deal valued at approximately $6.5 billion.

As U.S. tech giants continue to grow, they can look north of the border to acquire smaller Canadian tech companies.

<a href="https://www.benzinga.com/trading-ideas/long-ideas/21/03/20259113/5-canadian-mining-companies-to-watch-as-us-looks-north-for-ev-battery-minerals">See also: 5 Canadian Mining Companies To Watch As US Looks North For EV Battery Minerals</a>

Tucows Inc (NASDAQ:<a class="ticker" href="/stock/TCX#NASDAQ">TCX</a>) is a Toronto-based internet services and telecommunications company. It is also the second-largest domain registrar in the world. Tucows has already begun expanding into the U.S. and Europe. On&nbsp;March&nbsp;16, the company&nbsp;<a href="https://tucows.com/news/">announced</a> its next-generation fiber-optic internet is now available in Encinitas, California.

Tucows has a market cap of $866 million and as of Friday afternoon, shares traded at&nbsp;$81.47.

Mogo Inc (NASDAQ:<a class="ticker" href="/stock/MOGO#NASDAQ">MOGO</a>), a Vancouver-based fintech company, offers investment services, mortgages, personal loans, identity fraud protection and credit scores. The difference between Mogo and other similar companies is that it allows its customers to <a href="https://www.mogo.ca/mogo-crypto">invest directly</a> in Bitcoin (CRYPTO: BTC) through Mogo&rsquo;s online platform.

Mogo has a market cap of $480.83 million and as of Friday afternoon, traded at $8.48 a share.

MCloud Technologies Corp (OTC:<a class="ticker" href="/stock/MCLDF#OTC">MCLDF</a>) is based in Calgary, but has offices in the U.S., Asia and Europe. MCloud has <a href="https://www.mcloudcorp.com/about-us">developed</a> artificial intelligence and data analytics technology to help businesses manage energy assets. MCLoud&#39;s technology is currently used by Starbucks Corporation (NASDAQ:<a class="ticker" href="/stock/SBUX#NASDAQ">SBUX</a>), Cinemark Holdings, Inc. (NYSE:<a class="ticker" href="/stock/CNK#NYSE">CNK</a>) and TELUS&nbsp;Corporation (NYSE:<a class="ticker" href="/stock/TU#NYSE">TU</a>).

MCloud has a market cap of $20.57 million and traded on Friday afternoon&nbsp;at $2.59 a share.

Oculus VisionTech Inc (OTC:<a class="ticker" href="/stock/OVTZ#OTC">OVTZ</a>), a cybersecurity company based in Vancouver, is a leader in forensic watermarking solutions. While still in a&nbsp;<a href="https://ovtz.com/about-us/">development phase</a>, its SmartMarks technology is used by 20th Century Fox, owned by Walt Disney Co. (NYSE:<a class="ticker" href="/stock/DIS#NYSE">DIS</a>),&nbsp;for video piracy protection. Oculus is currently developing two products, Cloud DPS, which can authenticate and protect digital documents, and Forget-Me-Yes (FMY) software as a service platform that manages the location, organization and management of personal data.

Oculus VisionTech has a market cap of $65.83 million and traded&nbsp;at 75&nbsp;cents a share on Friday afternoon.

Hapbee Technologies Inc. (OTC:<a class="ticker" href="/stock/HAPBF#OTC">HAPBF</a>), a Vancouver-based technology company, has designed a wearable headset that allowing the user to choose how they feel. The headset broadcasts low-energy magnetic fields that send signals to the brain to promote a desired mental state such as happiness, sleepiness or increased focus. Hapbee is currently in the <a href="https://hapbee.com/blog/hapbee-advances-mechanical-engineering-phase-of-bed-related-product/">development phase</a> of a product for beds, which would deliver magnetic fields to different parts of the body.

Hapbee has a market cap of $24.87 million and traded&nbsp;at 54&nbsp;cents a share on Friday afternoon.

Photo: <a href="https://unsplash.com/photos/BJjhSbeUTXs">Ryan via Unsplash</a>)

5 Canadian Tech Companies To Watch As U.S. Companies Continue to Seek M&A

Shares of a tiny music recording industry penny stock rocketed higher Thursday in a case of stock mistaken identity.

What Happened: Shares of Luminar Media Group Inc (OTC:<a class="ticker" href="/stock/LRGR#OTC">LRGR</a>) rocketed higher as traders appeared to confuse the company with Luminar Technologies (NASDAQ:<a class="ticker" href="/stock/LAZR#NASDAQ">LAZR</a>).

Luminar Technologies is a former SPAC that completed its deal and started trading Thursday under the new name and symbol LAZR. It appears investors and bots got confused while trying to find Luminar shares.

Luminar Technologies is in the autonomous vehicle space.

Related Link: <a href="https://www.benzinga.com/news/20/09/17723285/kevin-oleary-shares-spac-picks-impressions">Kevin O&rsquo;Leary Shares SPAC Picks, Impressions</a>

Why It&rsquo;s Important: This isn&rsquo;t the first time mistaken identity has happened in the public market. In 2019, Auris Medical Holding (NASDAQ:<a class="ticker" href="/stock/EARS#NASDAQ">EARS</a>) shares<a href="https://www.benzinga.com/general/biotech/19/02/13161470/penny-stock-auris-medical-spikes-on-case-of-mistaken-identity"> traded up </a>30% on news Johnson &amp; Johnson was acquiring Auris Health.

Oculus VisionTech (OTC:<a class="ticker" href="/stock/OVTZ#OTC">OVTZ</a>) traded&nbsp;over 100% higher on news Facebook Inc (NASDAQ:<a class="ticker" href="/stock/FB#NASDAQ">FB</a>) was acquiring privately-held Oculus VR in 2014.

It&#39;s important for investors to pay attention to the news and what companies they are buying. Shares in these cases of mistaken identities often come crashing back down once people realize the mistake made.

Penny Stock Price Action: Shares of Luminar Media traded as high as $3.50 Thursday, before settling at $0.76 at market close. On the day, shares ended up 874% at close.

Purdue Pharma and Ocular Therapeutix Announce Initiation of Collaborative Research Activities to Evaluate Innovative Formulations for Non-Opioid Treatments for Pain

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